The way Colorado’s constituents vote this November will determine the future of the state’s economy, the livelihoods of tens of thousands of Colorado families and the stability of key local programs, including public schools and emergency services.
Proposition 112 on the November 6 ballot stems from unfounded out-of-state backing with no regard for its impact on Colorado’s economy, nor acknowledgment of the state’s reputation for having the most stringent and comprehensive safety measures in the oil and gas industry.
According to the Common Sense Policy Roundtable (CSPR) and the REMI partnership, if passed, Proposition 112 will increase regulatory setbacks in the oil and gas industry to five times the current required distance, making 85 percent of the state off-limits to new oil and natural gas development.
While the current setback distances maintain the necessary balance of environmental safety, community welfare and economic prosperity in Colorado, the new limitation will effectively ban the oil and gas industry altogether.
Should Proposition 112 pass, the state GDP would shrink by $26 billion by 2030, according to the study by CSPR and the REMI Partnership. Additionally, by 2030, state and local tax revenue would decrease by more than $1 billion, and the workforce would lose as many as 147,800 jobs.
What’s more, the majority of job losses — 77 percent — would occur outside the oil and natural gas industry. That’s thousands of retail, health care, real estate, construction, government (including teachers), hospitality and food service jobs.
While you may have heard of Proposition 112 and its ramifications, you might not be aware that another critically important statewide ballot measure — Amendment 74 — is also up for vote this Election Day.
Oftentimes when state and local governments confiscate private property, laws and regulations allow these actors to pay a reduced “fair market value,” an unfair punishment to homeowners, businesses, farmers and ranchers. One of the central tenets of Colorado state values is the safeguarding of private property from government confiscation. If passed, Amendment 74 would require state and local governments to fairly compensate private property owners for seized land.
Amendment 74 has the protection of all private property owners in mind, not forgetting some of the hardest-working Coloradans, those who have not only invested financial equity into their property, but also years of labor. When governments undercut compensation to property owners for seized or devalued land, they are sending a clear message about the importance of those players to the state’s economy.
Instituting strong private property rights means allowing homeowners, family farmers and other property owners the right to decide how to use their land. For many, a person’s or family’s property is their livelihood, and throughout the state’s history, its protection has been a cornerstone of the Colorado way of life. This way of life has been threatened, however, by the government’s ability to decide the fate of that private property without fair compensation to owners.
Fair compensation acts as a safety net to us all, not just private property owners. Rates lower than fair market value could weaken the value of property throughout Colorado, which could disturb the equilibrium of the state’s economy.
Vote NO on Proposition 112 and Vote YES on Amendment 74
Both the rejection of Proposition 112 and the support for Amendment 74 have one goal in mind: to protect Coloradans from decision-making that could make unnecessary and detrimental waves in multiple industries. Coloradans have a responsibility to protect themselves and their communities and to stand up for issues that matter.
Vote NO on Proposition 112 to prevent the institution of thoughtless setback requirements for oil and natural gas development. Say YES to Amendment 74 and protect Colorado’s farmers and ranchers, and reinforce their right to use their land the way they wish. Share this important information with your neighbors. Give them the facts, and warn them that Colorado’s future on the line.